Co-Operative Bank has prepared to increase size of its ATM network to double by cooperating with Germany’s fintech company Diebold Nixdolf.
By using systems, software and technology service from Diebold Nixdolf, the bank aims to open more 500 new ATMs and cash recyclers to expand its self-service cash offerings in other towns and cities besides Yangon.
CB signed an extensive contract with Diebold Nixdorf, which has supplied technology to CB’s current network of 500 ATMs.
“With the help of their (Diebold Nexdorf) advanced technology and services provided, we aim to become one of Myanmar’s top banks offering secure, innovative and convenient cash services across our branch, online and mobile channels,” said U Kyaw Lynn, CEO and executive vice chairman of CB Bank.
The new system will use EMV chip card technology, a technical standard for smart payment cards introduced b Europay, Mastercard and VISA.
The installation of the new system will start at the start of next year and the rollout is scheduled for completion by the end of 2017.
Ref: Press Release